I What and how much will be produced?
II. How will it be produced
III. For whom will it be produced?
IV. How much will be exported and consumed?
From the above, identify the combination of basic resource allocation questions in economic analysis

A student in Obu'pu Secondary School discovers that he simultaneously needs a biro, an exercise book, an eraser and a ruler, but that he can purchase only one of these items. What is the first thing he is expected to do?

Ufuoma is a consumer. His scale of preference shows that he prefers a pair of shoes to a wrist watch; he prefers the wrist watch to a pair of trousers; he prefers the pair of trousers to the pair of shoes. This means that Ufuoma is